"Thnx, Joe. Yes we did a title search et cetera. Shows Aurora. Aurora still sort of exists, but say they know nothing.
The idea of using quiet title is a good one. Have you ever been involved in such an action? We're in NY and the attorney has…"
"I'm surprised that you found nothing. You knew/saw in public record that xxx had a mortgage and note. Xxx went out of business and no one took their assets? Obviously, you first tried the title co since they have to find this stuff all the…"
Problem - property has a second mortgage originally with Aurora and we can not find the investor that now holds it. First was also with Aurora, and is now with Nationstar, but the second has disappeared. Can't do a short sale unless we can satisfy the second and can't do that without finding who holds/services the note. We brought in a lawyer to research it out, and she has come up with nothing as well.I recommended to the client that he try either a loan mod with Nationstar for the first and…See More
"As an retired appraiser, I get to say this appraiser mentioned in this thread sounds like a jerk, and I question some of what he said.
First off, it sounds way too brazen - I mean unless this is some little sleazeball servicer, they know that they…"
"Mostly I just read these threads, as, who knows, I might learn something, and given the level of competence here, most likely anything I might post has been or will have been said.
But it occurs to me that, given Gary's insistence on lack of…"
""They expect us to perform our fiduciary duty not only to our sellers but to them ..."
That is part of the problem - the banks (or rather the servicers) appear to believe we have a fiduciary duty to them. Do we? Are they our clients?…"
""Do you think this is hardship?"
Doesn't matter what anybody thinks. If you convince the bank a short sale or deed in lieu is the best approach for them, they will do the short sale or deed in lieu. It's not an exact term in…"
"I have done a number of these. First off, he has to stop paying the mortgages for a few months, or the investor/services will probably not take him seriously. The second related question is -- are the properties in his name and is he worried about…"
"Interesting exchange here as Mark, as an eloquent (and tenacious) ticked off buyer, provides a substantially different perspective.
Which I enjoyed. I can see how he might feel that we, as short sale agents, have little backbone.
We end up being…"
"This is the specific gist here: "Does the second lender have a right to know what the first lender is getting BEFORE the FINAL HUD? "
Is that some sort of failure to disclose? Does one lender have the legal right to know what the other…"
"I think the 'Negotiator' has a point here. Really what we could use here is a regulation, or law, compelling the note-holders to openly disclose their positions. The home-owner must disclose everything - the banks don't have to…"
"Can I give you my email address here without violating guidelines? Well, let's find out -- send me some basic particulars on the property (address, loan number and negotiator, etc.) and I will talk to my contact Mon or Tues and see if I…"
"Yeah, I sore it. Not to get too political here, but I wouldn't exactly blame the government. HAFA is a mutant creature that will probably die a slow death. Why? Because it's NOT mandated! Cause that would be government intrusion ...
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